DEBUNKED! 5 Myths in Real Estate Lending and exactly HOW a bank assess if you can service a loan!

Send us Fan Mail DEBUNKED! Want to find out 5 common myths when it comes to Real Estate Lending?Applied for a loan and got rejected but it made absolutely no sense? We tackle exactly HOW the banks assess if you can service a loan in this week's episode of the First Brick Property Podcast! 5:30 - Myth 1 - You can only have 1 Loan at a time!10:00 - Myth 2 - You can not get a loan if you have BAD credit!13:00 - Myth 3 - You can borrow more than you need17:00 - Myth 4 - You need a 20% Deposit to buy a property21:00 - Myth 5 - Monthly repayments are the same as fortnightly repayments25:00 - How the Banks Assess if you can service a loan26:00 - HEM27:45 - Credit Cards and other Debt32:00 - Different types of Income38:00 - Rental Income39:00 - Negative Gearing40:00 - Assessment rate43:00 - Principal and Interest Vs Interest Only44:45 - Debt Servicing RatioSome tips to helping you buy your next property!Property Calculator Australia APP Download linkAndroid - https://play.google.com/store/apps/details?id=com.propertycalculator&hl=enApple - https://itunes.apple.com/au/app/property-calculator-australia/id1048864391?mt=8 Buying property is our passion, helping you do it is our mission!Send us your questions, topic requests or guest speaker requests to our socials or our email [email protected]: linkedin.com/company/first-brick-property-buyers-agency Facebook: https://www.facebook.com/firstbrickproperty/ Instagram: https://www.instagram.com/firstbrickpropertybuyers/ Youtube: https://www.youtube.com/channel/UC1VA1YM1_BDZW7whNc4kFVg Lets talk - Australia Facebook Page: www.facebook.com/groups/letstalkproperty/  *Note that all information in this episode is based on information that is constantly changing and is general advice only*